Owing to economic slowdown and consequently lower valuations, Infosys Technologies is eyeing acquisitions in Europe or US. Speaking to Business Line, Mr T.V. Mohandas Pai, Member of Board and Director- Human Resources, Education and Research and Administration, Infosys, said the company was looking at acquiring firms in the BFSI, communication or manufacturing space. “We are focusing on adding vertical expertise, and not capacity building,” he said, without sharing any other details. For the year ended March 2008, the company had Rs 6,429 crore as cash and bank balance.
Infosys’ first acquisition was in Australia where it bought 100 per cent stake in Expert Information Services for about $22.9 million (Rs 92 crore). The company was renamed Infosys Technologies (Australia) Pvt Ltd. The company signed a $250 million seven-year deal to acquired three captive BPOs from the Netherlands-based Philips NV, including three shared centres in India, Poland and Thailand.
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